1900 Harry Johnsons Bartenders Manual (Mixellany)

— 102 —

"boss." Again, the people, such as brewers or whole- sale liquor dealers, who generally hold the mortgage, do not consider you a good business customer for this reason, and will not give you the same attention as they do others who are not indebted to them. Of course, a first-class, honorable concern will not take advantage of your situation or make any distinction in their treatment of you from other buyers, but some will do so and imagine that almost any class of sup- plies is good enough for the customers of a mortgaged place. This is one side of the question, a bad feature, necessarily, and one that will be detrimental to your business. On the other hand, it is something of a benefit to have your place mortgaged, for in case you should be disposed to sell the place, you may then more easily find a customer to buy, as many would be more readily satisfied when it did not take so much cash to complete the financial transaction. For instance, a business representing the value of $50,000 or $100,000 is frequently very difficult to dis- pose of, it being seldom that any buyer or investor is willing to risk such a large sum, no matter how good the business may be; but where there is a mortgage of from $25,000 to $50,000 or a similar proportion on the price asked, it is easier to sell in a more satis- factory manner, especially if the mortgage is held by an honorable party. In consideration of these facts, therefore, I would advise any person in taking a place at such a great cost as $50,000 or more, where there is so much risk, to buy it with a good-sized mortgage, or know that they will be able to secure one when pur- chasing, as it will relieve him of the fear of losing as much—in case there should be a failure—as he would otherwise. Where the investment requires, a large sum and where it is the intention of the buyer to take up a